Commercial Solar Owners to Get a $6500 Boost
Anybody who follows solar power closely would know that the industry has suffered from unstable funding mechanisms (i.e. the NSW feed-in tariff) and a lack of goverment. Despite this, commercial solar is beginning to emerge as a clear options for businesses to reduce the environmental footprint and increase profits. From the start of the 2012-13 income year, small businesses can immediately write-off of all assets valued at under $6,500 (up from $1,000 presently) and write-off all other assets (except for buildings) in a single depreciation pool at a rate of 30 per cent (15 per cent in the first year). Small business is one of Australia’s biggest employers. Reducing complexity, cutting red tape and providing tax relief will help small business grow and expand – benefiting all Australians. The Government is assisting small business through tax reform, including by responding to the Australia’s Future Tax System (AFTS) review, in the…
